TNT emerges from Chapter 11 bankruptcy protection

By D.Ann Shiffler19 October 2020

TNT’s reorganization plan was completed in just over five weeks.

TNT Crane & Rigging has emerged from Chapter 11 bankruptcy protection, completing a transaction that has strengthened the company’s balance sheet positions it for future success, according to a news release.

“This turning point marks the implementation of the company’s prepackaged plan of reorganization, which was confirmed by the U.S. Bankruptcy Court for the District of Delaware on September 30, 2020,” the press release said.

Mike Appling, CEO, TNT Crane & Rigging

TNT completed its restructuring in just over five weeks.

“Following the successful completion of our restructuring, we look forward to working with our new ownership group to build the next chapter of TNT’s growth – one grounded by a stronger financial position and recapitalized balance sheet,” said Michael Appling Jr., Chief Executive Officer of TNT. “We are pleased to report that this process was seamlessly executed faster than anticipated and has provided us with a newly revitalized foundation to continue as North America’s leader in providing safe, reliable lifting services to our customers.”

TNT emerges from its restructuring as a private company with a new ownership group, recapitalized with a new $225 million term loan. Filings and additional information on the transaction completed in connection with TNT emergence from bankruptcy can be found at https://cases.primeclerk.com/TNTCrane.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
D.Ann Shiffler Editor, American Carnes & Transport Tel: +1 512 869 8838 E-mail: d.ann.shiffler@khl.com
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: matt.burk@khl.com
CONNECT WITH SOCIAL MEDIA
Latest News
Lift-All expands with Grove truck cranes
The Omaha, Nebraska-based lifting provider recently added two new Grove truck cranes to its fleet.
Link-Belt Cranes restructures personnel
Following the retirement of industry veteran Paul Campbell, Link-Belt Cranes in the USA has reorganized managers.
Select Crane delivers Liebherr LTM 1130-5.1
Select Crane Sales recently delivered a 2015 Liebherr LTM 1130-5.1 to American Crane in New Hampshire